Why D-Wave Quantum Stock Jumped Nearly 50% Last Month
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Shares of D-Wave Quantum (QBTS) surged nearly 49% in May. While the stock was caught up in the larger market rally -- the S&P 500 jumped 5.15% in May while the Nasdaq Composite soared 8.36% -- a major announcement from the federal government sent shares flying. ExpandNYSE: QBTSD-Wave QuantumToday's Change(0.45%) $0.13Current Price$27.68Key Data PointsMarket Cap$10BDay's Range$26.49 - $28.8252wk Range$12.75 - $46.75Volume2.3MAvg Vol32.3MGross Margin32.92% Federal funding sends D-Wave stock soaring The biggest catalyst came later in the month from the U.S. Department of Commerce, which announced it will invest $2 billion in the quantum industry under the CHIPS and Science Act. Nine quantum computing companies -- including D-Wave -- will receive funds. The government and D-Wave signed a letter of intent for a $100 million investment in exchange for an equity stake. The market's reaction to the news was immediate. D-Wave stock surged over 33% that day alone, as investors digested the news of such a large investment from the federal government.
The White House views quantum computing as a strategic priority, mirroring its views on AI and chip manufacturing. Image source: Getty Images Q1 earnings were mixed Earlier in the month, D-Wave released its Q1 earnings, showing mixed results, sending shares sliding for a week or so. Revenue came in at $2.9 million, down 81% year over year (YOY) and well below the $4.1 million consensus. Granted, the scale of that decline was somewhat misleading. A one-time sale during the same period last year had inflated its revenue figure. That's kind of the name of the game for D-Wave at this point: the revenue continues to be "lumpy." On the other hand, the company's forward-looking numbers were encouraging. With a $20 million system sale to Florida Atlantic University and a $10 million deal with an unnamed Fortune 100 company, D-Wave's future bookings surged. You can check out the rest of the numbers in this table. MetricQ1 2026Q1 2025Revenue$2.9M$15.0MNet loss($18.4M)($5.4M)Cash$588.4M$304.3MEBITDA (Loss)($42.4M)($4.6M) Investor day and the dual-platform positioning The stock also got a boost from D-Wave's Investor Day at the New York Stock Exchange (NYSE). Company management outlined its strategy for the future following a major acquisition of Quantum Circuits Inc. earlier in the year. That deal means D-Wave now has two approaches to actually achieving viable commercial quantum systems. On top of its existing "annealing" technology, Quantum Circuits' "gate-model" gives the company a dual-prong strategy.Read NextJun 4, 2026 •By Johnny RiceShould You Buy D-Wave Quantum Stock While It's Under $35?May 27, 2026 •By Geoffrey SeilerThe U.S.
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Should Retail Investors Follow Suit?May 26, 2026 •By Robert IzquierdoD-Wave Quantum vs. IonQ: Which Quantum Computing Stock Is a Better Buy in 2026?May 26, 2026 •By Howard SmithStock Market Today, May 26: D-Wave Quantum Falls Even After Commerce Department $100 Million FundingMay 26, 2026 •By Keith NoonanWhy D-Wave Quantum Stock Plummeted TodayMay 24, 2026 •By Keithen DruryThis Quantum Computing Company's Backlog Just Increased Nearly 2,000%About the AuthorJohnny Rice is a contributing writer for The Motley Fool covering tech stocks. He previously contributed to various financial publications.TMFJohnnyRiceStocks MentionedD-Wave QuantumNYSE: QBTS$27.68(+0.45%)+$0.13Motley Fool Stock Advisor’s Latest PickGet Access---% Avg Return*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.